Nuvei, the Canadian fintech company, has formed a partnership with Adobe to provide customers access to their payment technology. Nuvei’s solutions will be facilitated through their existing integration with Adobe Commerce, which is part of Adobe Experience Cloud. The partnership supports businesses to create, manage and scale their commerce offerings. The partnership enables B2B and B2C businesses operating on Adobe Commerce to simplify payment relationships and expand into new markets.
Nuvei says B2B and B2C businesses specialising in a wide spectrum of verticals are expected to benefit from the solution. Enterprises in retail and consumer products, manufacturing, technology, and healthcare, can benefit from the reduction in complexity of a single integration to Nuvei’s agile, full-stack technology.
Nuvei’s API has integrations with more than 680 regional alternative payment methods (APMs). This will enable Adobe Commerce merchants to reach their customers where they are, and however, they want to pay. It will be achieved through local, tailored payment experiences. Businesses are also able to expand internationally through the same single integration.
In addition to offering APMs in markets across the globe, Adobe Commerce customers can also enable Automated Clearing House (ACH) account-to-account transactions in the US.
Growth in B2C and B2B transactions
Growth in both volume and value of US account-to-account payments continues to be rapid in both B2C and B2B transactions. This trend is set to continue as consumer adoption accelerates alongside the introduction of the FedNow instant payment infrastructure to the existing Clearing House Real-Time Payments network.
“After a record-setting holiday season for eCommerce, businesses are having to adapt quickly to keep up with customer demand for personalised and convenient online shopping experiences,” said Jason Knell, Senior Director of Content and Commerce Partnerships at Adobe. “By working with Nuvei, Adobe Commerce provides merchants greater flexibility in the payment experience. This also includes consumers shopping online, as well as across B2B channels.”
“We want to enable our customers to reach their customers, wherever they are in the world. However, they want to conduct eCommerce,” said Philip Fayer, Nuvei Chair and CEO. “For businesses, an effective, personalised approach to payments strategy is key. That is what this partnership is delivering for users of Adobe Commerce,” Fayer added.
Enterprise Times: What this means for businesses.
Online merchants, brands and retailers must provide digital shoppers flexibility in payment methods. They have to carefully design, curate and personalise options to them based on who they are. In addition to how they shop and where they are shopping from. For too long, payments were considered an afterthought in the design and development of the eCommerce eco-system. As a result, it is understandable that Adobe will be attracted to Nuvei. The company’s global reach and connectivity provide Adobe Commerce customers with access to card payment acceptance and 680 local alternative payment methods.
Better still, Adobe Commerce customers can now access Nuvei’s payment suite through a single API. The partnership will inevitably enhance Adobe Commerce’s ability to compete with the likes of Salesforce or SAP Hybris. However, there’s one component that appears missing from the partnership – Personalisation. Nuvei’s announcement fails to mention if their solutions deliver personalised payment experiences.
Those experiences could be based on shoppers’ profiles, the device and channel being used or based on past purchase behaviour. As a result, there is still little clear water between Adobe Commerce and the other established eCommerce platforms for enterprises. Particularly, when it comes to the crucial leg in the digital customer journey – payments.